Victims of Las Vegas massacre could get up to $800 million in settlement with MGM

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MGM Resorts International and lawyers representing victims and families in the 2017 Las Vegas shooting rampage that killed 58 people and wounded hundreds more have reached a settlement deal that could total $800 million.

The hotel giant and lawyers for the plaintiffs issued a statement saying the total settlement amount is expected to fall between $735 million and $800 million, depending on the number of people who elect to participate in the settlement. Lawyers hope to complete the deal by late 2020.

Tuesday marked two years since Stephen Paddock fired into the crowd of 22,000 from the 32nd floor of Mandalay Bay hotel, owned by MGM, for more than 10 minutes before taking his own life. Investigators never determined a motive for the attack, the deadliest mass shooting in U.S. history.

"Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process," said Jim Murren, CEO of MGM Resorts. "This agreement ... is a major step, and one that we hoped for a long time would be possible."

Murren said prolonged litigation was in no one's best interest and that the agreement should avoid that scenario.

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